Cars are manufactured identically “off-the-press” and their price is consistent when they hit the showroom floor. Properties, on the other hand, are unique. They have their own personal features and additions, such as a distinctive outlook, backyard, balcony, fireplace, and so on. Even if it’s wedged in a row of townhouses, it will have its…
What a busy week it has been! The Albanese Government handed down its first budget since forming the government, we got an update on the consumer price index, which lifted by 1.8% in the three months to September, taking the annual rate to 7.3%. Ms Eleanor Creagh, Senior Economist at REA Group shared her insights:…
Australia’s house prices are seeing the fastest quarterly decline on record. However, September quarter could be a peak quarterly decline, according to Domain’s House Price Report. It’s not really as bad as some of the property pessimists are predicting. In fact, house prices across the combined capitals are now 4.9% below the March 2022 price…
How are our property markets doing now that we’re halfway through spring? Well, rising interest rates have quickly rebalanced the housing market from last year’s extreme growth levels, haven’t they? The current stage of the property cycle is now characterised by widespread price falls. In fact, prices nationally are now sitting 3.4% below their March…
The highs and lows of Australia’s property market were a hot topic even before the pandemic-induced price boom of 2020-2021. And with so much talk about extravagant surges in both the number and value of property sales, talk also turned to how much money some of these ‘lucky’ property investors managed to make. After all,…
At it’s latest board meeting the RBA lifted the cash rate by 25 basis points. Now that’s the sixth consecutive rate hike, taking the cash rate to 2.6% – the highest it’s been since 2013. Having delivered a shock and awe campaign of massive interest rate hikes since May, the Reserve Bank of Australia chose…
Property prices surged across the country as the pandemic boom, driven by ultra-low borrowing rates and high demand, with some areas seeing an uptick in prices by as much as 69%. But now the heady heights of the pandemic boom have eased – the Reserve Bank is swiftly hiking rates, pushing many would-be buyers off…
Well, mortgage borrowers should brace for more interest rate hikes. But just how many RBA increases are coming have economists divided. ANZ now predicts the cash rate will peak at 3.60 per cent in May next year, instead of 3.35 per cent by the end of this year. It also noted the RBA’s decision to…
Australians don’t appear to be feeling the heat of the interest rate rises yet, with credit card spending hitting a record high and debt dropping to almost a two-decade low. In fact, debt accruing interest fell to $16.94 billion in August, in original terms according to the latest RBA data released today. This is actually…
The way property is bought and sold has changed a lot in Australia over the past few decades. Not only have we seen listings move from shop windows to online portals, but buyer’s agents have become a growing part of the sector, too. While they have been a part of the profession in the US for…
